Mexico City, February 22nd, 2023 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), releases its results for the fourth quarter of 2022 (“4Q22”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (4Q22)
At the Chain level, the Average Daily Rate (“ADR”) increased 12.1% and the Revenue Per Available Room (“RevPAR”) increased 32.6%, compared to 4Q21, reaching levels of $1,190 and $692 pesos, respectively. The occupancy rate was 58.1%.
Total revenue reached $926.2 million, a 27.5% increase compared to the same quarter of 2021.
Operating profit reached $231.1 million in 4Q22, compared to a $44.5 million profit in the same quarter of last year.
EBITDA and Adjusted EBITDA were $334.1 million and $334.9 million, respectively. This compares to $185.5 million and $186.4 million registered in 4Q21. Adjusted EBITDA increased 79.7% from the previous year for a margin of 36.2% for the quarter (10.5 percentage points higher than the same quarter of the previous year). This was the second highest EBITDA margin for a fourth quarter in the Chain’s history.
Net Income for the period was a gain of $102.3 million compared to the $2.8 million gain in the same quarter of 2021.
At the end of the quarter, the Chain had 151 hotels in operation, one less than in the fourth quarter of the previous year. There were 17,296 rooms in operation during 4Q22, which was 35 less than the 17,331 rooms at the end of 4Q21.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com